Changes to the flat rate system of paying value added tax (VAT) that come into effect from 1 April are already confusing businesses of all types and sizes, Howards, the Stafford-based firm of chartered certified accountants, has warned. When the new tax year begins, many small businesses that use the existing flat rate VAT scheme
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Autumn Statement 2016: Flat rate VAT changes explained
by Owen Gough • • 0 Comments
Major changes have been announced for the amount of VAT that many small businesses will have to pay in Philip Hammond’s Autumn Statement. This will affect businesses that use the VAT Flat Rate Scheme but which spend very little on raw materials – such as firms providing services. The VAT Flat Rate Scheme simplifies businesses’ record
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